Any municipality owning an electric power plant or a water system, where the plant or system has no bonded indebtedness, is authorized to use the profit derived from the operation of the plant or system toward the payment of the outstanding bonded indebtedness of all sewer or street improvement districts within the limits of the municipality, as provided in this subchapter.
Ark. Code Ann. § 14-199-202
Authorized use
Acts 1937, No. 267, § 1; Pope's Dig., § 10042; A.S.A. 1947, § 19-3901.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.